MORTGAGE PRODUCTS
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2. Variable Rate
These are often the least expensive mortgage products. Many offer an initial discount or are called Tracker Rate mortgages. The monthly cost is dictated by the Bank of England Base Rate (BBR). Whenever the BBR changes (rises or falls) the mortgage payment follows. |
Your home may be repossessed if you do not keep up repayments on your mortgage.
For mortgages you can choose how we are paid: pay a fee, usually 0.5% of the loan amount, or we can accept commission from the lender.
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